Brighton Jones LLC Sells 624 Shares of Visa Inc. (NYSE:V)

Brighton Jones LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 4.0% during the second quarter, Holdings Channel.com reports. The fund owned 14,827 shares of the credit-card processor’s stock after selling 624 shares during the period. Brighton Jones LLC’s holdings in Visa were worth $3,467,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Visa by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,009,523 shares of the credit-card processor’s stock worth $17,787,336,000 after acquiring an additional 6,034,535 shares during the period. Morgan Stanley increased its stake in shares of Visa by 0.9% in the 1st quarter. Morgan Stanley now owns 41,175,579 shares of the credit-card processor’s stock valued at $8,718,106,000 after purchasing an additional 382,061 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Visa by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 26,805,015 shares of the credit-card processor’s stock valued at $5,659,987,000 after purchasing an additional 515,935 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Visa by 3.4% in the 2nd quarter. Fisher Asset Management LLC now owns 23,646,481 shares of the credit-card processor’s stock valued at $5,529,020,000 after purchasing an additional 786,166 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Visa by 10.7% in the 2nd quarter. Alliancebernstein L.P. now owns 20,743,603 shares of the credit-card processor’s stock valued at $4,850,269,000 after purchasing an additional 2,009,038 shares during the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

In other Visa news, EVP Tullier Kelly Mahon sold 2,091 shares of the business’s stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $248.71, for a total transaction of $520,052.61. Following the completion of the sale, the executive vice president now directly owns 32,055 shares of the company’s stock, valued at approximately $7,972,399.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 30th. The stock was sold at an average price of $235.11, for a total value of $2,115,990.00. The disclosure for this sale can be found here. Insiders sold a total of 84,813 shares of company stock valued at $20,342,613 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on the company. Truist lifted their price target on Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Piper Sandler lifted their price target on Visa from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Barclays lifted their price target on Visa from $275.00 to $284.00 and gave the company an “overweight” rating in a research note on Sunday, June 6th. Susquehanna raised their price objective on Visa from $265.00 to $290.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Finally, Morgan Stanley raised their price objective on Visa from $279.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $271.52.

Shares of V stock traded down $0.33 during mid-day trading on Wednesday, hitting $222.70. The company’s stock had a trading volume of 118,732 shares, compared to its average volume of 8,228,104. The company’s fifty day simple moving average is $236.44 and its 200-day simple moving average is $229.52. Visa Inc. has a 52 week low of $179.23 and a 52 week high of $252.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $433.81 billion, a PE ratio of 44.90, a P/E/G ratio of 2.00 and a beta of 0.98.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.16. Visa had a return on equity of 35.45% and a net margin of 47.97%. The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post 5.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 12th. Visa’s payout ratio is 25.40%.

Visa Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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